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VCGuy

Stealth • 5m

A few days ago, Flipkart introduced its new UPI service, Supermoney. ⏮️The interesting part: Let's go back a few years - Dec, 2015: 3 former Flipkart exec's start PhonePe. Apr, 2016: Flipkart acquires PhonePe for $20 M. Aug, 2018: Walmart acquires a 77% stake in Flipkart for $16 B, at a valuation of ~$20 B Dec, 2020: Walmart leads a $700 M direct investment in PhonePe and flipkart announces the spin-off of PhonePe Dec, 2022: Flipkart completes the transfer of its full stake in PhonePe to parent Walmart Returning to the present: Flipkart launches Supermoney UPI. UPI transactions clocked a record last month processing 14.04 B transactions worth ₹20.45 trillion. 💸Flipkart's UPI strategy seems to mirror the initial approach of Google Pay, focusing on offering real cashback rewards. The market share of UPI apps is currently at -> - PhonePe, 48.9% - GooglePay, 37.7% - Paytm, 8.3% - Cred, Amazon Pay, and others at 5.1% 💡It will be interesting to see how things unfold, especially with NPCI's 30% market share cap deadline approaching in December 2024. 🧠I couldn't find good examples of companies with the same parent targeting exactly the same market. Let me know if you know of any!

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Laxit Rana

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Finished implementing phonePe in my company and to my surprise total merchant traffic of phonepe was more than of Paytm, Amazon Pay, flipkart seller and Bharatpe all combined. we may be using Gpay or Paytm for day to day transactions but it's PhonePe

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Anonymous

Anonymous

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So after meesho Flipkart is also going to be profitable. But the intresting thing is phonePe is also on path to be become profitable

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